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RE: How is Bitconnect Sustainable? How is Bitconnect Not a Ponzi?

in #bitcoin • 7 years ago

In summary, Bitconnect does not meet the definition of a Ponzi because all payouts are conducted using its own currency of which it has a seemingly endless amount.

Oh I get it, it's not a classic ponzi scheme instead its a new and improved ponzi scheme 2.0, thanks for the clarification...

Also Grant I see you got your girlfriend doing Scamconnect promotional videos on YouTube as well now, flashing all her Gucci shit and acting surprised about her first referral of $900 from a single unknown person (likely you Grant...).

Anyways both you can have fun continuing to pump your little baby ScamConnect, but don't be surprised if the people showing you complete love right now, one day switch to showing you nothing but absolute hate when this BCC house of cards enviably comes crashing down.

7 years ago in #bitcoin by
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     7 years ago 

    The videos may lead to people stopping investing. Which is actually quite hilarious

    Managed to get another big crypto name to take notice (and i say it like that cause i cant spell it 😂)

    https://twitter.com/aantonop/status/930560000107405313

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     7 years ago 

    Couldn't Bitcoin crash for the same reasons? Bitcoin only has value because geeks like it.

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       7 years ago (edited)

      "Couldn't Bitcoin crash for the same reasons? Bitcoin only has value because geeks like it."

      Possibly, but since you want to make that comparison, lets test your logic a little bit?

      1. Bitcoin has been around for ~8 years and has proven its versatility up to this point, Bitconnect has been around for ~1 year and so far has not seen any major obstacles to test its versatility...
      2. When you buy Bitcoin your principle investment is controlled by you (on an exchange or in a wallet), when you invest in Bitconnect your principle investment is locked up for months at a time and is controlled by Bitconnect (within the BCC system)...
      3. The price of Bitcoin (BTC) is determined by the buyers/sellers on each exchange at whatever price they are willing to accept (hard to corrupt, natural), the price of Bitconnect is largely controlled by Bitconnect itself due to almost all transactions taking place within their own system (easy to corrupt, controlled (and FYI their so called "trading bot" is actually exclusively on their own BCC exchange and is used to game the price of their own token between their users inside their system))...
      4. Bitcoin is offered on a HUGE amount of exchanges with a decent volume split between many of them, Bitconnect is offered on hardly any exchanges and over 95% of all BCC transactions take place on a single exchange (Bitconnects personal exchange, the other exchanges being basically no-name exchanges with almost non-existant BCC trade volume)...
      5. At the current time a decent amount of people in the real world are willing to trade tangible items for Bitcoin (BTC), at the current time hardly anyone in the real world is willing to trade tangible items for Bitconnect coins (BCC)...
      6. Bitcoin is highly transparent about its team and how it functions, Bitconnect is highly secretive about its team and how it functions (we have a trading bot (trust us), we have a legit company owner (you just will never actually see him), our platforms structure can last for the long run (even though due to compound interest and exponential payouts is mathematically impossible))...
      7. Bitcoin doesn't rely on affiliate/pyramid style marketing techniques to continue its growth, Bitconnect relies heavily on affiliate/pyramid style marketing techniques to continue its growth...
      8. Bitcoins creator is unknown but the platform has a dedicated and highly public development team with faces behind it, Bitconnects creator and development team are highly secretive and questionable at best with no real faces behind it...
      9. Bitcoin doesn't rely on paid YouTube ads and website banner ads to draw in new users, Bitconnect relies heavily on paid YouTube ads and website banners to draw in new users...
      10. The concept behind how Bitcoin works and is distributed makes logical mathematical sense (hard-coded exponential reduction of newly distributed supply over time, increasing its value over time), the concept behind how Bitconnect works and is distributed doesn't make logical mathematical sense (relies on exponential increase of newly distributed supply over time, increasing in value at first while they can game the system but quickly hits a point where massive value decline is enviable).

      I could go on with more, such as BCC reducing its payout %s or total coin supply whenever they feel like and other shady as hell red flags but I think I got my point across already so I'll stop at 10 points. Basically when everything is said and done, your Bitcoin vs Bitconnect argument is like comparing apples and oranges. Whatever, since your defending Bitconnect, that means you are highly likely invested in the platform, but the irony is any good ponzi scheme relies on drawing people in and making those people defend the scam due to being financially/emotionally invested (like you probably are), a method which is always used by a ponzi scheme to prolong the scam for as long as possible.

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       7 years ago 

      "Bitcoin only has value because geeks like it."

      Who do you think made the computer/phone that you are using? Well basically every single thing of value...............

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